Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in CenterPoint Energy by 18.2%, acquiring an additional 13,294 shares during the second quarter, bringing its total to 86,479 shares valued at approximately $3,177,000.
• Analysts have set price targets for CenterPoint Energy, with multiple firms, including Mizuho and Barclays, raising their targets to $39.00, indicating a cautious outlook with ratings ranging from "neutral" to "sector outperform."
• CenterPoint Energy recently reported quarterly earnings of $0.29 per share, missing the consensus estimate, with a revenue of $1.94 billion compared to the expected $2.20 billion, highlighting potential challenges in their financial performance.

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 18.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,479 shares of the utilities provider's stock after acquiring an additional 13,294 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in CenterPoint Energy were worth $3,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNP. Curat Global LLC purchased a new stake in shares of CenterPoint Energy during the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of CenterPoint Energy during the 1st quarter valued at $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of CenterPoint Energy during the 1st quarter valued at $27,000. Harbor Investment Advisory LLC lifted its holdings in shares of CenterPoint Energy by 201.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 691 shares during the last quarter. Finally, Motco lifted its holdings in shares of CenterPoint Energy by 107.8% during the 1st quarter. Motco now owns 1,039 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

Wall Street Analyst Weigh In

CNP has been the subject of a number of research reports. BMO Capital Markets lifted their price target on CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Barclays lifted their target price on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Mizuho set a $39.00 target price on CenterPoint Energy and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Scotiabank lifted their target price on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, CenterPoint Energy presently has an average rating of "Hold" and a consensus target price of $38.50.

CenterPoint Energy Trading Up 1.1%

CNP traded up $0.44 during trading hours on Tuesday, reaching $38.61. The company's stock had a trading volume of 1,741,938 shares, compared to its average volume of 5,177,454. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The business's 50-day moving average is $37.95 and its 200-day moving average is $37.09. CenterPoint Energy, Inc. has a fifty-two week low of $28.41 and a fifty-two week high of $39.39. The stock has a market cap of $25.20 billion, a PE ratio of 27.00, a P/E/G ratio of 2.78 and a beta of 0.58.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio is currently 61.54%.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.